Analysts Set LandBridge Co LLC (NYSE:LB) Price Target at $59.44

Shares of LandBridge Co LLC (NYSE:LB) have been given a consensus rating of “Moderate Buy” by the ten research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $59.44.

Several research analysts recently commented on the company. Royal Bank of Canada reissued an “underperform” rating and set a $25.00 target price on shares of LandBridge in a research note on Tuesday, December 10th. Wells Fargo & Company set a $82.00 price objective on LandBridge and gave the stock an “overweight” rating in a research report on Friday, March 7th. Piper Sandler reduced their target price on shares of LandBridge from $79.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Raymond James lifted their price target on shares of LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, The Goldman Sachs Group increased their price objective on shares of LandBridge from $73.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, March 26th.

LandBridge Stock Performance

Shares of LB stock opened at $69.57 on Friday. LandBridge has a 52 week low of $18.75 and a 52 week high of $84.70. The firm has a 50 day moving average of $70.41 and a two-hundred day moving average of $62.77. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $5.09 billion and a PE ratio of 19.54.

LandBridge Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Thursday, March 6th. LandBridge’s dividend payout ratio (DPR) is 11.24%.

Institutional Trading of LandBridge

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Horizon Kinetics Asset Management LLC boosted its position in shares of LandBridge by 4.0% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 5,399,275 shares of the company’s stock valued at $348,793,000 after purchasing an additional 208,408 shares during the period. First Manhattan CO. LLC. boosted its holdings in shares of LandBridge by 23.5% in the fourth quarter. First Manhattan CO. LLC. now owns 2,713,506 shares of the company’s stock valued at $175,292,000 after acquiring an additional 516,380 shares during the period. FMR LLC grew its position in shares of LandBridge by 40.5% during the third quarter. FMR LLC now owns 2,378,121 shares of the company’s stock worth $93,032,000 after acquiring an additional 686,070 shares during the last quarter. Hood River Capital Management LLC acquired a new position in shares of LandBridge in the 4th quarter valued at $41,431,000. Finally, Vanguard Group Inc. purchased a new stake in LandBridge in the 4th quarter valued at $38,480,000.

About LandBridge

LandBridge Company LLC owns and manages land and resources to support and enhance oil and natural gas development in the United States. It owns surface acres in and around the Delaware Basin in Texas and New Mexico. The company holds a portfolio of oil and gas royalties. It also sells brackish water and other surface composite materials.